After years of selling über-expensive SL roadsters to the wealthy, in 1997 Mercedes-Benz surprised the car-buying public by offering a retractable-hardtop roadster as visually stunning as the SL, but at 50 percent off. The car was the $40,000 SLK, whose dashing looks promised sports-car performance, although in reality it was more a boulevardier than a track-ready player.

Despite the SLK's lack of tire-spinning sports-car virtues, Mercedes had a hit on its hands as status seekers with less astonishing budgets quickly snapped up the first few years' worth of production. Sustaining the furor proved a bit difficult as the SLK aged quickly in its ever-evolving segment. The entirely redesigned second generation will surely revive the excitement, not because of its price, but because it is now a driver's car.

Fire up the SLK350, and what you'll notice is the mechanical symphony played by the dual exhaust. The previous SLK's 185-hp, 2.3-liter supercharged four-cylinder engine never sounded this good. Its engine beat out a sound that was more popcorn popper than sports car. Exhaust tuning was clearly not a priority on the first SLK, although the later six-cylinder model improved matters significantly. Now that Mercedes is serious about building a sports car, the SLK gets an eager, percussive exhaust note that increases in alacrity when the engine is playing hard. Your ears will now agree that the SLK sounds the part.

The engine responsible for this dulcet opus is a 268-hp, 3.5-liter V-6. Based on the 215-hp, 3.2-liter 90-degree V-6 from last year's SLK320, the 3.5-liter ditches the three-valve twin-plug SOHC heads in favor of DOHC single-plug four-valve heads with variable valve timing on the intake and exhaust valves. The extra displacement comes from an increase in bore and stroke, and new pistons contribute to a bump in the compression ratio from 10.0:1 to 10.7:1. As in the 3.2-liter, a balance shaft keeps the harmonically challenged 90-degree V-6 spinning happily to its 6200-rpm redline.

The revised mill is rotary-smooth and blessed with a constant stream of 258 pound-feet of torque from 2400 to 5000 rpm that provides excellent 30-to-50- and 50-to-70-mph top-gear passing times. Power delivery at any rpm is quick and effortless, and the thrust never seems to taper off. If you don't keep an eye on the tachometer, you're sure to run into the 6500-rpm fuel cutoff in the short first and second gears. This is a seductively sporty engine that accelerates the SLK to 60 mph in 5.3 seconds-0.2 second quicker than a Nissan 350Z Touring and a whopping 1.5 seconds quicker than the SLK320. Hang on for 13.8 seconds, and the quarter-mile will pass at 103 mph on its way to a redline-limited top speed of 161 mph. (Why our tester ran to 161 instead of a governed 155 is a mystery.)

Mercedes offers its seven-speed automatic, dubbed the 7G, on its new roadster, but our SLK350 had a precise and rewarding six-speed manual. The shifter feels like the love child of a Honda S2000 and BMW M3. There's a slightly rubbery feel as in the M3, and the throws aren't quite as short as the S2000's, but the effort is light and positive. Shift as fast as you like, because the gearbox synchros feel unbeatable. Pedal placement is good, although the smaller-shoed will wish the brake pedal were just a bit closer to the accelerator to facilitate heel-and-toe downshifts. It's easy to match revs in the SLK, as the engine responds instantly to accelerator contact, and unlike most modern engines, the SLK loses revs quickly. The engine has a willing personality that is perfectly suited to a manual transmission-you'll definitely not regret choosing it over the automatic. The conventional wisdom has always been that Mercedes reluctantly developed light and sloppy manual gearboxes for taxi drivers instead of enthusiasts. Clearly, that notion can be put to pasture as the SLK's gearbox is good enough to make everyone happy.

Two beneficial Mercedes traits that have carried over are a rigid body structure and strong, fade-free brakes. Stops from 70 mph are drama-free and use up 167 feet. Brake-pedal feel is excellent; the SLK has traditional hydraulic brakes instead of the brake-by-wire Sensotronic system that is difficult to modulate. A tight structure has always been a Mercedes strength, and the first-generation SLK was blessed with a structure that was largely quiver-free. According to the front office, the new generation increases torsional rigidity by 46 percent and bending stiffness by 19 percent. High-strength steel is used liberally and to good effect: Over even the worst expansion joints, railroad tracks, and potholes, the SLK shoulders the blows with ease.

Attached to the stiff structure are a strut front suspension and a multilink rear suspension. Even with staggered gumballs, 225/45R-17s in front and 245/40R-17s in back, the SLK resists understeer unlike any other Mercedes. At low speeds, power oversteer is readily available, and at higher speeds, you'll find some reassuring understeer, but it's never of the terminal variety. Grip is plentiful at 0.87 g, and roll is kept in check. The ride is now sports-car stiff, but the SLK will absorb large impacts without jarring the occupants. Toss it through a few corners, and it immediately feels smaller than its predecessor, despite its larger dimensions.

The car's new steering system contributes greatly to the chuckable feel. Mercedes has finally purged itself of the numb recirculating-ball steering that was too fast off-center and incommunicado after that. The new rack-and-pinion setup talks to the hand as readily as a guest on Jerry Springer. Unlike Jerry's guests, though, the wheel speaks clearly, predictably, and without anger.

ÃÂ

Inside, the interior is biased toward comfort. Slight increases in width and wheelbase over the last SLK yield only one more cubic foot of passenger room, but taller occupants no longer have to move the seat against the bulkhead to get comfortable, as there is now more seat travel. Although the firm, supportive leather seats are adjustable for height, the seating position is quite low. Dash and doorsills are at nearly shoulder level, and the top of the windshield looms like the bill of a baseball cap--it's like being in a bunker.

Lower the top, and the feeling of encapsulation disappears. Push a single button, and the metal top goes through 22 seconds of yoga-like contortion to fold into the trunk. Opt for the Premium package, and you'll get the ability to raise and lower the hardtop via the key fob. To drop the top, press the unlock button twice and hold it down the third time. Restoring the top is just as easy: Press the lock button twice and hold it down the third time. Even with the top stowed, there is enough room underneath it for luggage for two travelers. Top down, wind rushes over and around the large windshield. To avoid buffeting from the rear, Mercedes throws in a see-through fabric shroud that attaches to the two roll hoops. But the shroud muddies visibility as effectively as it blocks the wind. After only a few miles with it attached, we decided to remove it, as looking through the rearview mirror made us think we had developed cataracts. Another annoyance with the SLK stems from the dimly lit radio and climate-control readouts. With the top down, even a small amount of sunlight makes the display unreadable; brighter lighting would fix that.

Styling was perhaps the old car's strongest suit. Arguably the first wearer of the star to break free from dowdy tradition and have a bit of extravagant style, the SLK was quickly eclipsed by a stream of fashionable and modern Benzes. With the redesign, the SLK returns to the vanguard of Mercedes design. The long-hood, short-deck proportions and Mercedes-Benz SLR McLaren-like front end go a long way to butch up the SLK's exterior. The redesigned interior merges a few metallic bits with high-quality leather and plastic. Controls are straightforward, and the overall design is original and satisfying. The SLK may be small, but at just 160.7 inches long, it packs more panache than the other roadsters in its segment.

The first SLK never got its acceptance letter into the sports-car class. It certainly looked the part, but dynamically it didn't sing the way a sports car should. After seven years of being wait-listed from the class, the new SLK can finally matriculate with the best from Europe, Japan, and the U.S. It's quite a shock that a poseur can become so wonderfully genuine overnight. But with a new Porsche Boxster on the horizon, the maniacal Lotus Elise finally here, and the satisfyingly fast C6 Corvette on the ground, the SLK faces some hard-core competition. The SLK will likely continue to be purchased for its appearance and cachet rather than for its newfound sports-car soul, but for those who seek a dynamically satisfying performer, the SLK will not disappoint.

Turn It Off--All the Way Off!

For years we've complained about the butt-in behavior of the electronic stability programs in Mercedes-Benzes, which automatically intervene to shut down power and braking when they think your driving needs help. A dashboard switch suggests the program can be turned off, but it can't--it just kicks in at what it sees as a more intemperate level of driving on your part. We were convinced it simply could not be shut off.

Well, Benz lovers, we found a way.

Here's how. To start, turn the ignition key to the first accessory position, making sure the dash display shows the odometer. The SRS airbag light should be on. Press the trip odometer reset button three times rapidly before it goes off. If you do this right, a screen will appear showing a voltmeter. Then press the "up" arrow on the left side of the wheel twice to take you to the "ESP dynamometer test" screen. Using the plus (+) button on the right side of the wheel, select "on." And then start the car. Warnings will appear informing you that the ESP, ABS, and BAS (brake assist) aids are now turned off and you're on your own.

If you did it right, you've put the car in a mode intended for diagnostic testing on a rolling dynamometer--all electronic supervision is unplugged. Unhindered by techno-aids, the SLK's grip on the skidpad improved by 0.03 g compared with simply hitting the ESP switch on the dash. To return all the safety technology, scroll back to the dyno test screen and select "w/t. 15 off" with the minus (-) button. Shutting off all the electronic aids isn't easy, and that should tell you something. Owners are not generally privy to the dynamometer mode; therefore, we will continue to publish test numbers attained with the dashboard ESP switch turned off. We just thought you'd want to know.

LARRY WEBSTER

The SLK was always a weird car. It looked sporty, and AMG versions had major firepower, but there was no real passion to it, no lust that made you yearn for it as I did for a Porsche Boxster. This new one is better in every way. Its rounded tail has eliminated the awkward stubbiness that plagued the old car. The six-speed manual transmission--once an embarrassment of rubbery feel--rows cleanly through its gates. There's now a crispness to the chassis and steering that the old car sorely needed. But the automotive world has moved on, too, and for about the same money, my eyes have wandered over to Chevy's 400-hp Corvette.

ANDRÃo/oo IDZIKOWSKI

The cup holders on the SLK350 are the flimsiest and most awkward-looking devices to come from a German automaker, but not to worry--remarkably, they work great. They securely held two large fountain drinks under moderate acceleration and cornering and didn't spill a drop. The cup holders are just the beginning. The redesigned interior and exterior look terrific, and the handling and performance are refined and sporty. One thing that doesn't work well is the LCD for the radio in the center of the dash--it's utterly illegible when the top is down on a sunny day. Anyone who can come up with such cool drink holders should be able to do a better job with the stereo display.

TONY SWAN

I confess that I found it a little startling to slide into an automobile costing upwards of 45K and find myself fumbling with manual seat adjustments. You can get power seats in the new SLK, but I was able to achieve comfort without becoming too fatigued. And once the car was in motion, my reservations faded like my hopes of being discovered as a child prodigy. The original SLK baby Benz was noteworthy for its folding hardtop and general cuteness. But this second-generation SLK is a whole order of magnitude better--better-looking, better on the road, a real grown-up GT. It makes the original SLK look like little more than an appealing novelty.